The restrictive OPEC + deal and the recovery in demand are powerful drivers for oil prices, and they are also supported by news about vaccines.
The current price for Brent crude is around $ 65 per barrel, while WTI is around $ 60 per barrel.
The rise in oil prices allowed Eliro Trading Group to earn over $ 2.3 million in just the last 24 hours thanks to the futures contracts signed last year.
The OPEC + Alliance, which includes the largest oil powers - Russia and Saudi Arabia, as part of the deal, limits world oil production by 7.125 million barrels per day in February, from next month this figure will drop to 7.05 million barrels. The OPEC + agreement, which aims to revitalize the market that has suffered from the COVID-19 pandemic, is valid until the spring of 2022.
Eliro. Our result is your victory!